(Alliance News) - Integumen PLC on Tuesday said it has agreed with Canadian clinical technology company Innocare Group to promote "innovation and cooperation" between research institutions.
The AIM-listed personal health care company said, under the agreement, the research institutions will assist commercial enterprises in China with routes to regulatory compliance using Labskin and LabskinAI without the need for animal testing for cosmetics and skincare products.
"Our combined expertise, technologies and access to research & development in China and Europe will achieve far more and enable faster commercialisation for our respective technologies on both continents," said Innocare Chief Executive & President Charles Xu.
In addition, Integumen said it saw strong demand for Labskin and LabskinAI services despite six weeks' delay in opening up the new laboratories in York. The company, which also has offices in Dublin, said its revenue increased to GBP1.0 million in 2019 versus GBP274,000 reported a year earlier.
"Our sales, including recurring revenue, look set to continue strong triple-digit growth as our order book of existing and new clients expands across three continents," said Integumen CEO Gerard Brandon.
Integumen shares were trading 0.9% higher in London on Tuesday at 1.79 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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